UK Markets open in 4 hrs 17 mins

Conzzeta: Expected acceleration in Q3

·3-min read

Conzzeta / Key word(s): 9 Month figures

16-Oct-2020 / 06:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Interim information as of the end of September 2020
Expected acceleration in customer activity in Q3

Zurich, October 16, 2020 - The Conzzeta Group posted net revenue of CHF 905.4 million for the first nine months of 2020. At constant exchange rates and taking changes in the scope of consolidation into account, revenue was down 11.8% on the previous year. The decline for six months had been 16.2%.

1 At constant exchange rates and adjusted for changes in the scope of consolidation.
2 Incl. Schmid Rhyner (CHF 6.9 million 2020 and CHF 38.1 million 2019).

The acceleration in customer activity compared to the pandemic-hit first half of the year confirmed the expectation communicated with the publication of the half-year results in August. In the third quarter, the Group's net revenue was 2.7% below the previous year in organic terms, with Mammut (Outdoor segment) recording slight growth. The acceleration was evident in all regions, but was particularly pronounced in China, where order intake from Bystronic (Sheet Metal Processing segment) and revenue from FoamPartner (Chemical Specialties segment) exceeded the previous year's levels.

The implementation of the Group's announced strategic focus is proceeding according to plan. The date for the Capital Markets Day, where the strategy for the Bystronic core business will be presented, has been set as November 10. For the 2020 financial year, Conzzeta is still expecting an operating result (including the divestment gain on the sale of Schmid Rhyner) in the mid-double-digit CHF million range, with substantially lower net revenue compared to the previous year.

Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com

About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. About 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials and Outdoor segments. In December 2019, Conzzeta announced a strategic focus on the Sheet Metal Processing segment and the sale of all its other activities. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).


End of ad hoc announcement

CHF m

 

 

Change in %

9M 2020

9M 2019

reported

organic1)

Group net revenue

905.4

1,136.5

-20.3%

-11.8%

 

 

 

 

 

Sheet Metal Processing

 

 

 

 

Order intake

535.8

693.5

-22.7%

-18.2%

Net revenue

566.8

662.3

-14.4%

-9.5%

 

 

 

 

 

Net revenue of discontinued operations

 

 

 

 

Chemical Specialties

189.42

265.42

-28.6%

-14.8%

Outdoor

149.4

186.7

-20.0%

-17.5%

Glass Processing

-

22.4

-

-

CHF m

 

 

Change in %

9M 2020

9M 2019

reported

organic1)

Group net revenue

905.4

1,136.5

-20.3%

-11.8%

 

 

 

 

 

Sheet Metal Processing

 

 

 

 

Order intake

535.8

693.5

-22.7%

-18.2%

Net revenue

566.8

662.3

-14.4%

-9.5%

 

 

 

 

 

Net revenue of discontinued operations

 

 

 

 

Chemical Specialties

189.42

265.42

-28.6%

-14.8%

Outdoor

149.4

186.7

-20.0%

-17.5%

Glass Processing

-

22.4

-

-

Language:

English

Company:

Conzzeta

Giesshübelstrasse 45

8045 Zürich

Switzerland

Phone:

+41 44 468 24 49

Fax:

+41 44 468 24 53

E-mail:

info@conzzeta.com

Internet:

www.conzzeta.com

ISIN:

CH0244017502

Valor:

A117LR

Listed:

Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange

EQS News ID:

1141232


 

End of Announcement

EQS Group News Service

show this
show this